Articles filed under Harney, Ken

Emerging ‘non-QM’ market helps buyers get mortgagesOct 3, 2014 12:01 AMBy Ken Harney
If you’re thinking about buying a house, you probably know the sobering realities in the mortgage market. Thanks to strict federal rule changes in the wake of the housing bust, it can be tough to qualify for a loan.

Flexible rules could extend mortgages to millionsSep 26, 2014 12:01 AMBy Ken Harney
Are the two biggest players in the American mortgage arena — Fannie Mae and Freddie Mac — needlessly preventing millions of African-Americans, Latinos and young people from qualifying for a loan because they don’t have a FICO credit score?

Underwater homeowners, lenders await decision in CongressSep 12, 2014 12:01 AMBy Ken Harney
Congress is back from its summer vacation, so the burning financial question on thousands of homeowners’ minds right now is this: Are you guys finally going to help out consumers who are underwater on their mortgages, many of whom face crushing federal tax bills if they accept — or have already accepted — principal reductions by their lenders?

A policy switch at FHA will end unfair feeSep 5, 2014 12:01 AMBy Ken Harney
Hundreds of thousands of home sellers have had their pockets picked at closings during the last decade; they’ve been charged interest on their mortgages after their principal debts had been fully paid off.

No rush by lenders to use new credit scoreAug 22, 2014 12:01 AMBy Ken Harney
You may have noticed the big media splash recently when Fair Isaac, developer of the iconic FICO credit score, announced the debut of a new score version that no longer would penalize consumers who have medical debt-collection issues in their credit files.

Is lawsuit a wake-up call on title insurance?Aug 15, 2014 12:01 AMBy Ken Harney
A new federal court suit alleging kickback violations by one of the country’s top-producing real estate sales teams raises an unsettling question for homebuyers: Could your agent or broker be pocketing under the table large chunks of what you pay for title insurance?

Finger-pointing leads to a credit score logjamAug 1, 2014 12:01 AMBy Ken Harney
Are mortgage lenders finally loosening up a little on their credit score requirements — opening the door to larger numbers of home purchasers this summer and fall?

A tracker for housing-price trendsJul 11, 2014 12:01 AMBy Ken Harney
Homebuyers, sellers, small investors and realty agents are about to get new tools that purport to show where local property values are headed: the first “house specific” monitors for consumers that can track price trends — and forecast them up to one year into the future — on 50 million single-family homes across the country.

Fighting back on maternity discriminationJul 4, 2014 12:01 AM
It doesn’t get much publicity compared with other home mortgage issues, but it appears to be a persistent problem: Lenders and mortgage insurers allegedly delay or deny loan applications when a borrower is pregnant or heading for maternity leave.

Legal issue arises from racial data on realty websitesJun 20, 2014 12:01 AMBy Ken Harney
When you shop online for a home, some websites let you specify the characteristics of the community where you want to live. Maybe you’re looking for excellent schools, low crime rates, affordable prices and low property taxes.

Equity making a strong reboundJun 13, 2014 12:01 AMBy Ken Harney
If you’re like most homeowners, the house is your biggest asset. You can’t track it online or check monthly statements sent to you by a bank, but it’s crucially important for your personal financial well-being and your retirement planning.

Owners caught in tax-code limboJun 7, 2014 1:15 AMBy Ken Harney
Is partisan warfare on Capitol Hill over taxation of medical devices crushing thousands of homeowners’ plans to do short sales this year?

A lone calculator’s saving gracesMay 30, 2014 2:31 PMBy Ken Harney
When you need a mortgage — whether to buy a house or refinance — what do you do? More than likely you jump online and check out competing quotes on sites that let you compare multiple offers, including interest rates, annual percentage rates (APRs) and monthly payments.

Condos becoming FHA no-lending zonesMay 23, 2014 12:01 AMBy Ken Harney
For young first-time buyers, people with modest down payment cash, or seniors who want to tap their equity using a reverse mortgage, it’s a growing problem: They cannot use Federal Housing Administration financing in condominiums.

A case for looser credit scoresMay 9, 2014 12:01 AMBy Ken Harney
Are lenders’ credit-score requirements for home purchasers this spring too high — out of sync with the actual risks of default presented by today’s borrowers? The experts say yes.

If you’ want to buy, it maybe time to get off the sidelinesApr 25, 2014 12:01 AMBy Ken Harney
Are you on the home buying sidelines this spring because you think you won’t be able to qualify for a mortgage? Do you know what sort of FICO credit scores are being accepted by lenders at the moment — they’re lower than they were a year ago — and whether yours could now be good enough?

Restoration of home-related tax benefits gets complicatedApr 11, 2014 12:01 AMBy Ken Harney
Renewal of important expired federal tax benefits for homeowners took a major step forward last week, but the route to final congressional approval is beginning to look longer — and potentially bumpier — than previously expected.